NNWE Reaction to Toshiba Withdrawing From New Build Projects

February 03, 2017

NNWE Reaction to Toshiba withdrawing from new build projects

3 February 2017

Commenting on news that Toshiba looks set to withdraw from nuclear new build projects, Tim Yeo, Chairman of New Nuclear Watch Europe (NNWE), said: “NNWE has long been an advocate of opening up the UK market for new nuclear build to alternative vendors, and has made repeated calls on government to commission a study of which nuclear technologies offer the best value for money.”

“Nuclear is vital to delivering a secure, low carbon and affordable energy mix. Complacency is not an option and government needs to create the right conditions for countries like China, Korea and Russia to come to the UK, invest and build.”

“We cannot afford to put all our eggs in one basket and standby and hope that certain projects will deliver. Introducing diversity into the portfolio of nuclear new build projects will significantly mitigate any risk of non-delivery. And as NNWE has always argued, a thorough consideration of all the technologies on offer will ultimately be in the best interests of the consumer through leading to lower electricity prices”.

NNWE was founded at the end of 2014 to help ensure nuclear power is recognised as an important and desirable way for European governments to provide affordable, secure, low carbon energy and help to meet the long-term energy needs of their citizens.

NNWE wants to ensure that contracts for new nuclear power stations are awarded in a way which delivers the greatest benefit in the fairest manner, to local communities, as well as to consumers and national governments.

Membership of NNWE is open to all companies, individuals and organisations active in the nuclear industry including those involved in the supply chain. More information is available at newnuclearwatch.eu.

Tim Yeo is Chair of New Nuclear Watch Europe and the University of Sheffield Industrial Advisory Board for the Energy 2050 initiative. He is a former Shadow Secretary of State for Trade and Industry and was Chair of the Environmental Audit Select Committee from 2005-2010 and then Chair of the Energy and Climate Change Select Committee from 2010-2015.

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Message from Tim Yeo,Chairman of New Nuclear Watch Europe

"Nuclear power provides a reliable, safe and low carbon source of electricity. At a time of anxiety about security of energy supplies, the cost of energy and concern about carbon emissions from electricity generation, nuclear power has a vital role to play. I feel that the time is ripe for a revival in Europe's nuclear industry, as the interest now being shown in the European market by businesses from outside the EU underlines. In addition to the environmental and security advantages of nuclear power considerable economic benefits will flow from Britain, and Europe, being in the vanguard of this revival. However, to realise these benefits we need to ensure that consumers and policymakers understand the importance of nuclear power within the overall energy mix and my aim is to ensure that NNWE contributes strongly to this debate."